Ethereum

Ethereum: technical analysis

Current trend

ETH quotes started the week with a downward correction within the rising channel and are now testing the 137.50 the level of (Murrey [3/8], the middle line of Bollinger bands). It will be difficult to fall below it due to the large number of supports but in case of success, the “bearish” targets will be 129.00 (the bottom line of Bollinger bands) and 125.00 (Murrey [2/8]). The price reversal and the beginning of growth to the center of the Murrey trading range in the region of 150.00 ([4/8]) seem more likely.

Technical indicators do not give a clear signal. Bollinger bands are directed horizontally. The MACD histogram has stabilized in the positive zone. Stochastic is directed downwards.

Support and resistance

Resistance levels: 150.00, 156.25, 162.50.

Support levels: 137.50, 129.00, 125.00.

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Trading tips

Long positions can be opened from the level of 141.50 with the target at 150.00 and stop loss in the area of ​​136.00.

Short positions can be opened by fixing the price around 135.00 with the targets at 129.00, 125.00 and stop loss 139.00.

Implementation period: 3–4 days.

 

Scenario

Timeframe Intraday
Recommendation BUY STOP
Entry Point 141.50
Take Profit 150.00
Stop Loss 136.00
Key Levels 125.00, 129.00, 137.50, 150.00, 156.25, 162.50

 

Alternative scenario

 

Recommendation SELL STOP
Entry Point 135.00
Take Profit 129.00, 125.00
Stop Loss 139.00
Key Levels 125.00, 129.00, 137.50, 150.00, 156.25, 162.50

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